By Dean Popplewell
European public holidays have done little to ease any of the turbulence over the last few days as we head into employment releases. Capital markets seems to be accepting that NFP will be bad, but, how bad?
Negative sentiments from Moody's has failed to stop the EUR's rally. Even the suggestion of incentives for debt rollovers is not being touted as a Greek default. On the other hand, a stronger Spanish bond auction this morning is deemed as being favorable for the currency.
With "no news" being "good news" the currency is on the march again, towards strong resistance at 1.45
The US$ is weaker in the O/N trading session. Currently, it is lower against 13 of the 16 most actively traded currencies in an "orderly' session.
There is no other way to describe it, yesterday's ADP was a shock to the system and has many rethinking
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